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NDIC Grants Banks N192.6 Billion Rebate on Insurance Premium

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Nigeria Deposit Insurance Corporation (NDIC) on Friday said it has granted N192.6 billion rebate on insurance premium to banks in the last three (3)… Read more »

Nigerian overnight rate rises as central bank mops up liquidity

Fri Jan 23, 2015/Reuters Nigerian interbank lending rates climbed 2 percentage points to an average of 10.75 percent this week from 8.75 percent last week, after the central bank moved… Read more »

CBN Ups Weekly Forex Cash Sales to $30,000 per BDC

By InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Friday said it has reviewed upward the weekly forex cash sales to BDCs from $15,000.00 to $30,000.00 per BDC. The… Read more »

Naira Falls To N205 – $1 At Foreign Exchange Bureaux

Jan 22, 2015/The Will The Nigerian naira Thursday continued its free fall against the dollar at the foreign exchange bureaus, closing at N206-$1 United States dollar. The naira had sold… Read more »

UBA Eyes Expansion to Angola, South Africa-CEO

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Africa’s top lender, United Bank for Africa Plc (UBA) on Thursday said it’s planning to expand its operations to Angola and South Africa, a Bloomberg… Read more »

CBN Communique No. 99 of the MPC Committee Meeting of Monday 19th and Tuesday 20th January, 2015

Jan 20, 2014/CBN MPCs Considerations The Committee noted with satisfaction the growth performance of the economy as well as the year-end inflation outcome. It was, however, concerned about a number… Read more »

Nigeria’s Central Bank Maintains Interest Rate at 13%

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s central bank on Tuesday maintained interest rate at 13 percent and cash reserve requirement (CRR) at 20 percent by 500 basis points in November…. Read more »

Nigeria naira up 2.3 pct as banks, energy firm sell dollars

Mon Jan 19, 2015/Reuters Nigeria’s naira recovered from a record intraday low on Monday after two commercial lenders and an energy company sold dollars on the interbank market ahead of… Read more »

UBA Names Samuel Oni Non-Executive Director

By InvestAdvocate Lagos (INVESTADVOCATE)-African lender, United Bank for Africa Plc (UBA) on Monday announced it has appointed Samuel Oni as non-executive director of the bank effective January 16, 2015 and… Read more »

CBN Governor faults JPMorgan’s Report on Naira

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Godwin Emefiele, governor Central Bank of Nigeria (CBN) on Friday faulted the JPMorgan Chase & Co GBI-EM indexes that there is lack of liquidity in… Read more »